Earnings in line; margins flat QoQ

Company
17 Jan 2024
5 Min read 
  • HDFC Bank reports steady loan growth and healthy other income.
  •  Margins remain flat despite excess liquidity.
  •  Asset quality improves with low GNPA/NNPA ratios and high PCR.
  •  Bank aims to sustain CASA mix and improve NIMs.
  •  Valuations are favorable with low P/E and P/BV ratios.
  •  BUY rating with target price of INR1,950.
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